XtreamForex Review
XtreamForex is an online retail broker for traders who wish to enjoy all the benefits of trading with the popular MetaTrader platforms — the MT4 and MT5 trading platforms. The broker provides traders with various competitive trading conditions to give their clients an edge in the market. In addition, a live account can be created with a minimum deposit of just $5.
Founded in 2014, XtreamForex is an online CFD brokerage firm that is based in the Marshall Islands that provides traders with seamless access to the global financial markets. They allow clients to trade various financial assets — forex, indices, stocks, cryptocurrencies, commodities, and more — using the MT4 and MT5 trading platforms. The broker uses a straight-through processing execution model with a liquidity pool of institutional partners, enabling them to offer competitive price quotes with raw spreads starting from just 0 pips and reliable trade execution speeds without the intervention of a dealing desk. In addition, the minimum deposit required to start trading is $5. However, the broker is not regulated which may be a red flag for potential clients. If you would prefer to trade with a top-tier regulated broker, you may want to consider AvaTrade instead.
Trading with XtreamForex comes with a lot of perks but also some downside, mainly the lack of regulation. The broker offers a vast selection of asset classes available to trade via the intuitive and user-friendly MetaTrader platforms for desktop, web, and mobile devices. The broker also has very favourable trading conditions, including pure STP/ECN execution, convenient funding options, and more. Furthermore, they provide traders with a suite of helpful trading tools, educational resources, and a reliable client support team. In addition, XtreamForex offers a wide variety of account types, all with highly competitive and distinct trading conditions, specifically designed to meet the needs and demands of all kinds of traders.
At XtreamForex, traders can buy and sell various financial instruments, which are spread across several asset classes. The Trading Products that XtreamForex offers include forex, indices, stocks, cryptocurrencies, commodities, and more. However, they do not quite compare to brokers such as RoboForex who have a much greater selection of over 12,000 instruments for you to choose from.
XtreamForex Instruments Summary
| Instruments | XtreamForex |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | ✓ |
| Options | x |
| Bonds | x |
| ETFs | x |
| CFDs | ✓ |
Commission and Spread Fees
XtreamForex has tight spreads and decent fees. There is an option to trade on raw spreads starting from 0.0 pips with no dealing desk intervention. This can help to avoid any potential conflict of interest between you and the broker. While the commission is a small transaction fee when you enter and exit a trade, the spread is the difference between the Bid price (selling price) and the Ask price (buying price) of the traded instrument. This is a price that you pay to a broker when you enter and exit your trades.
When trading with XtreamForex, the commission fee you pay depends on the account type that you choose. Micro and standard accounts have no commission fee, the ECN account has a $7 commission fee, the ECN Pro account has a $5 commission fee, and the VIP account has a small $1 commission fee. Whilst the overall fees and spreads are good, you can get better conditions from regulated brokers such as FXDD.
On the other hand, the XtreamForex spreads are very tight, starting from just 0 pips on the ECN and VIP accounts — raw spreads. The Micro and Standard accounts have spreads from 1 pip but do not charge any commission as all costs are already included within the spread mark-up.
| Fee | Micro Account | Standard Account | ECN Account | ECN Pro Account | VIP Account |
|---|---|---|---|---|---|
| Commission (per standard lot per side) | $0 | $0 | $7 | $5 | $1 |
| Spreads from | 1.2 | 1.0 | 0.0 | 0.0 | 0.0 |
Deposit and Withdrawal Fees
The broker does not charge any fees for account deposits and withdrawals. However, some third-party processing fees can apply from the respective banks or payment processing companies.
Inactivity Fees
The broker does not charge an inactivity fee on dormant accounts.
XtreamForex provides you with online trading and investing via the common MT4 and MT5 trading platforms. These are advanced trading platforms that ensure the seamless trading of various financial instruments. The trading platforms are available in desktop, web, and mobile versions.
MetaTrader 4
The broker provides traders with the MT4, an advanced trading platform that was launched in 2005. It ensures the seamless trading of multiple financial assets. The platform is owned by a trading software company that is known as MetaQuotes. It has grown to become one of the industry-leading trading platforms today.
The MT4 trading platform is packed with useful trading tools and enhanced trading functionalities, such as one-click trading, multiple timeframes, various technical indicators, and more. In addition, the platform is fully customizable and comes with an intuitive user interface, making it suitable for all levels of traders.
The broker makes the MT4 available as a desktop application for Windows and Mac computers, a web trader, and a mobile app that is compatible with Android and iOS devices and can be downloaded from the respective app stores. The web version of the MT4 runs directly on modern web browsers, such as Chrome, Safari, Edge, and Firefox, without needing to download or install any additional software. The mobile trading app is best suited for traders who wish to place trades and check trading positions while on the go as long as there is an internet connection.
Platform features
- Support for one-click trading
- Multiple charts
- Support for hedging, scalping, and other trading styles
- Technical analysis on the charts with hundreds of indicators
- Nine different timeframes.
- Thirty inbuilt indicators and analytical tools.
- Alert notifications
- The platform allows traders to set push alert notifications.
- Trade automation using expert advisors
- Allows strategy backtesting
- Built-in MQL4 programming interface for creating custom indicators, scripts, expert advisors
- Live quotes
- Drawing tools
- View live account balances and order history.
- Available in desktop, web, and mobile versions
MetaTrader 5
In addition to the MT4 trading platform, the broker provides traders with the MT5 trading platform. It is an advanced trading platform that was developed in 2010 by MetaQuotes following the success and popularity of the MT4 trading platform. The MT5 trading platform is available as a desktop application for Windows and Mac computers, WebTrader that runs directly on modern web browsers, and a mobile app that is designed for smartphone devices running on Android and iOS. The mobile trading app is designed to suit the trading needs of traders who wish to place trades and check trading positions while on the go, provided there is an internet connection.
There is a lot to love about the MT5 trading platform. It has all of the essential features and functionalities of the MT4 trading platform, along with some additional features and extended functionalities.
The platform is designed with a user interface that is intuitive yet packed with a range of essential trading features and functionalities, making it suitable for all levels of traders. Other crucial features of the MT5 trading platform include 21 timeframes, expert advisors, multiple timeframes, and more. Users can also enjoy favorable trading conditions, such as faster processing times, the ability to hedge positions, advanced pending order functionality, and more tools and indicators.
MT5 Platform features:
- Available for desktop, web, and mobile platforms
- Allows trade automation via expert advisors
- Faster trade processing times
- Intuitive user interface
- Multiple timeframes
- Over 38 built-in technical indicators
- Support for trade automation using expert advisors
- Offers built-in trading tools
- Enhanced trade processing speeds
- Scalping allowed
- Hedging allowed
- Depth of market
- Multi-currency
- Multi-threaded
- Real ticks
XtreamForex Platforms Summary
| Platform | XtreamForex |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | x |
| Proprietary | x |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | ✓ |
| Other | x |
Tools
VPS Hosting Service
XtreamForex is committed to bringing forth advanced technology. So, the broker teamed up with some of the finest providers to offer free VPS hosting access to their clients for exceptional trading conditions with security and flexibility. You can also get a free VPS from other brokers including Eurotrader.
Virtual Private Server is widely known as VPS. It is a remote service that works autonomously. A VPS runs virtually, imitating devoted server environments within large Servers. It imparts secured and firm trading by providing permanent connectivity to the internet without any disruption.
The VPS hosting service at XtreamForex offers many unique benefits, including 24/7 uninterrupted service, ideal connection speed, minimize delays in order execution, enhanced speedy recovery of lost data, and smooth functioning alongside other operating systems.
XtreamForex Copy Trading Program
The XtreamForex’s Copy Trading Program allows traders to automatically copy trades of other traders so that they do not have to spend many hours developing their strategy. Whilst this can be a solution for those of you who do not have the time or skills to trade by yourself, there can be no guarantee on results. Past performance is not an indication of what will happen in the future.
Trading Academy
At XtreamForex, you will find a wealthy Trading Academy that is replete with various essential learning resources, such as trading guides, tutorial videos, e-courses, webinars, daily market analysis, and much more. These educational resources are aimed at helping traders improve their trading skills and knowledge.
News
The broker has an up-to-date news section that contains the latest updates on the events in the financial markets. It provides traders with a comprehensive overview and insight of global markets, and as such, it can be used for fundamental analysis. The news also helps traders to stay aware of the events that take place in the financial markets.
Economic Calendar
The broker provides traders with an economic calendar to help traders stay ahead of the economic events that will take place in the markets in the future. The economic calendar is a reliable research tool that shows the schedule of future market events and their expected impacts on the global financial markets.
FAQ
The broker has an FAQ section. It contains a comprehensive list of traders’ most common questions and their corresponding detailed answers. For example, the FAQ section at XtreamForex includes the following subheadings: account management, deposits/withdrawals, trading platform, and more.
Webinars
Webinars are regular learning events that brokers organize to allow traders to be mentored by expert traders. In addition, XtreamForex provides clients with regular live webinars that can help improve trading knowledge and skills. These regular live webinars allow traders to learn from veteran forex traders as they share their trading experiences. The live webinars cover various trading topics, such as fundamental and technical analysis, market sentiment, support and resistance, trading strategies, Q&A, and more.
Trading Glossary
The trading glossary is located in the “Education” section at the top of the broker’s website. The glossary section contains various trading terminologies and their detailed explanations.
XtreamForex Research and Education Summary
| Resources | XtreamForex |
|---|---|
| Market Analysis | ✓ |
| Guides | ✓ |
| Videos | ✓ |
| Webinars | ✓ |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | ✓ |
| Other (VPS, Copy trading program, News, Glossary) | ✓ |
The broker provides traders with various secure deposit and withdrawal methods, including bank transfers, credit/debit cards, cryptocurrencies, and e-wallets. In addition, you can make deposits and withdrawals in the United States Dollars (USD).
To carry out your deposit/withdrawal, you will need to log into your secure client portal, navigate to the Fund Transfers section, choose Deposit/Withdraw Funds, fill in the form, and submit it. Then, the deposits will be processed securely and seamlessly. Please note that the funds must be withdrawn by the same method used for the deposits.
To fund your account by bank wire transfer, you will need to obtain the broker’s bank details from the Client Area or request them by emailing the broker’s customer support. Once you make your deposit by bank transfer, you will have to provide a swift copy of your transaction. The minimum deposit to open trading is just $5.
Deposits and withdrawals via other payments are instant, while the time taken to process bank transfers is dependent on your bank and correspondent bank timings. All withdrawal requests are processed within the same working day of receipt, during business hours (9:00 – 18:00 EET); however, it will take 2-4 working days for the funds to reach your card/bank account.
XtreamForex Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | ✓ | ✓ |
| Credit/debit Card | ✓ | ✓ |
| Electronic Wallets | ✓ | ✓ |
| Cryptos | ✓ | ✓ |
XtreamForex is the trading name of Xtream Markets LTD, a fully registered company in the Marshall Islands. While the broker seemingly lacks strict regulation, they have various security features in place. If like most traders you would prefer to trade with a regulated broker, then Forex.com are one of the most well-regulated brokers that you will find.
In addition, XtreamForex is a member of the Investors Compensation Fund and insists that client funds are held in segregated bank accounts as per their regulations requirements and that they provide negative balance protection.
XtreamForex Regulation Summary
| Regulator | XtreamForex |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | x |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other | x |
At XtreamForex, a knowledgeable client support team is available 24/5 to respond to clients’ general, technical, and account-based inquiries. The support team can be reached via any of the following contact channels: telephone, email, live chat, and social media. I think that they could improve by offering 24/7 support like competitors such as Hugo’s Way.
Operating from the Marshall Islands, XtreamForex is a true ECN forex broker that was launched in 2014. The broker provides traders with many decent trading conditions to ensure a seamless trading experience. Their clients have access to advanced trading tools, educational resources, and the services of a reliable client support team. The broker allows traders to buy and sell multiple Trading Products using advanced trading platforms available in desktop, web, and mobile versions. The minimum deposit required to start trading is $5 and free demo accounts are also available. Despite the positives, the lack of regulation is likely to be a significant deterrent for many clients who would prefer the peace of mind that comes when trading online with a regulated broker.
